Happy Birthday Wal-Mart & Amazon, Retailing Will Never Be the Same

Credit Suisse analyst Michael Exstein notes that Wal-Mart (WMT) and Amazon.com (AMZN) both have July birthdays. He explains the significance:

July is usually known as a sleepy month in retail, but it is a notable month for retailing history. Last Wednesday marked the 52nd anniversary of the first Walmart discount store opening in Rogers, Arkansas, and next Wednesday will be the 19th anniversary of the launch of Amazon.com. Walmart and Amazon may be the two companies that have had the greatest impact on American retailing in post-war history. They have both altered consumer expectations of cost and convenience,...